Centro de Documentación OLADE -

The impact of the coronavirus has deeply unsettled the governments of emerging oil and gas producer countries. The health crisis upset individual lives across the globe, and disrupted government agencies’ capacity and planning. Oil companies have suffered badly and several major projects have been brought to a standstill. Lockdowns worldwide significantly restrained demand for oil at a time of historic oversupply in the market, which resulted in prices plummeting in April 2020. While oil prices have since made a partial recovery, the sector remains shaken. Questions abound about the long-term effects of COVID-19 on the world economy and energy demand. It remains to be seen how long national economies will take to recover and the extent of the impact.